Intuitive Surgical (NASDAQ:ISRG) Trading Down 1.4% - Here's What Happened

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) shares dropped 1.4% during trading on Monday . The company traded as low as $563.35 and last traded at $576.08. Approximately 710,376 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,914,490 shares. The stock had previously closed at $584.05.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ISRG shares. Morgan Stanley upgraded Intuitive Surgical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $522.00 to $650.00 in a report on Monday, December 2nd. Raymond James boosted their price objective on shares of Intuitive Surgical from $560.00 to $688.00 and gave the company an "outperform" rating in a research report on Friday. Oppenheimer reiterated a "market perform" rating on shares of Intuitive Surgical in a report on Friday, October 18th. Citigroup raised their price target on shares of Intuitive Surgical from $640.00 to $711.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of Intuitive Surgical from $611.00 to $641.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $613.10.

Intuitive Surgical Price Performance

The company has a market cap of $204.26 billion, a P/E ratio of 92.20, a PEG ratio of 5.19 and a beta of 1.39. The stock's 50-day moving average price is $547.16 and its 200-day moving average price is $505.21.

Insider Activity

In other news, insider Jamie Samath sold 22,903 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $525.00, for a total value of $12,024,075.00. Following the sale, the insider now directly owns 8,757 shares in the company, valued at approximately $4,597,425. This trade represents a 72.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 188 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $506.52, for a total transaction of $95,225.76. Following the transaction, the executive vice president now owns 5,506 shares of the company's stock, valued at $2,788,899.12. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,453 shares of company stock worth $22,059,506. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently modified their holdings of ISRG. Mirador Capital Partners LP boosted its holdings in Intuitive Surgical by 1.4% in the third quarter. Mirador Capital Partners LP now owns 3,526 shares of the medical equipment provider's stock valued at $1,732,000 after acquiring an additional 50 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in shares of Intuitive Surgical during the fourth quarter worth approximately $449,000. Seilern Investment Management Ltd bought a new position in shares of Intuitive Surgical in the fourth quarter valued at $82,517,000. Exome Asset Management LLC boosted its stake in Intuitive Surgical by 16.8% during the 3rd quarter. Exome Asset Management LLC now owns 7,427 shares of the medical equipment provider's stock valued at $3,649,000 after purchasing an additional 1,069 shares during the last quarter. Finally, Consolidated Planning Corp grew its holdings in Intuitive Surgical by 17.4% during the third quarter. Consolidated Planning Corp now owns 8,099 shares of the medical equipment provider's stock worth $3,979,000 after buying an additional 1,198 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.